Dealership chain Holiday RV Superstores Inc. has signed a term sheet to acquire the Holiday Kamper and Boats dealership group in the Carolinas and to sell its dealership location in Bakersfield, Calif.
The transactions are a part of Holiday RV’s decision to “refocus its operations in the Eastern and Central portions of the U.S.,” said Marcus Lemonis, chairman and CEO.
Holiday Kamper, owned by Kent Lester, is a 20-year-old company with dealerships in Charleston, Columbia, Greenville and Myrtle Beach, S.C., and one located in a Bass Pro Shops store in suburban Charlotte, N.C.
Completion of the Holiday Kamper acquisition is “subject to definitive documentation and third party consensus,” according to Holiday RV’s statement.
Once the deal is finalized, Lester will become the Holiday RV employee in charge of the Holiday Kamper locations.
Holiday Kamper will shrink its boat inventory to the point where it only stocks new units built by Tracker Marine, the boatbuilder owned by Bass Pro Shops founder John L. Morris, Lemonis added.
Meanwhile, the sale of the Bakersfield location to former Holiday RV executive Lee Fitzgerald is expected to close by mid-December. During the 1990s, Fitzgerald and his family sold their dealership, named Venture Out, to Holiday RV. Venture Out also had a location in Roseville, Calif., in addition to Bakersfield.
Holiday RV sold the former Venture Out location in Roseville during September to Pan Pacific RV Centers.
Fitzgerald, who no longer is affiliated with Holiday RV, intends to revive the Venture Out dealership brand, Lemonis said.
Terms of the transactions were not revealed.
Once the two transactions are completed, Holiday RV will operate 10 locations. Its other dealerships are in Clermont, Fla., Las Cruces, N.Mex., Lexington, Ky., Prosperity, W.Va., and Spartanburg, S.C.